Earnings Recap – November 10th 💰

Earnings Recap – November 10th

Coinbase

Coinbase, the largest cryptocurrency exchange in the U.S., reported third-quarter earnings after the bell on Tuesday and missed analysts’ estimates on revenue.

The cryptocurrency exchange reported revenue of $1.31 billion versus analysts’ consensus of $1.57 billion down from $2.28 billion in the second quarter. Trading volume slumped to $327 billion, down 29% sequentially. Additionally, the company reported $1.62 in per-share earnings, compared with the consensus expectation for $1.81.

Monthly transacting users declined from the previous quarter at 7.4 million from 8.8 million in the second quarter. However, the company grew 6.1 million from the prior year.

Chief financial officer Alesia Haas said during a conference call with analysts that a more tranquil trading environment weighed on Coinbase’s results. “The story of our third quarter really centers on lower volatility that we saw early in the quarter,” Haas said.

“Our monthly transacting users and trading volumes and, therefore, transaction fee revenue, all correlate with volatility.”

Shares of Coinbase sunk more than 11% premarket after the company reported lower-than-expected quarterly revenue.

Disney

Disney reported fiscal fourth-quarter earnings on Wednesday after-the-bell.

Disney reported earnings of 37 cents per share on revenue of $18.53 billion. Wall Street expected earnings of 51 cents per share on revenue of $18.79 billion, according to Refinitiv. Disney+ subs also came in short of estimates at 118.1 million, compared to the forecast of 125.4 million.

The company posted quarterly results that missed Wall Street’s expectations as the media giant saw a more marked-than-expected slowdown in Disney+ streaming subscribers, with consumer mobility picking up and virus-related disruptions weighing on show production.

During the Goldman Sachs Communacopia Conference in September, CEO Bob Chapek said the segment’s growth had “hit some headwinds” and that Disney expected to add “low single-digit millions” of streaming subscribers in the fourth quarter.

Shares of the media giant dropped more than 4% in after-hours trading after missing the top and bottom lines of its quarterly results.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:

More Posts

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community.The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results.Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such.Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.